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Financial News: U.S. GDP Growth Upwardly Revised More Than Expected

U.S. GDP Growth Upwardly Revised More Than Expected In Q1

05/26/2017 - 08:46:00 (RTTNews)

(RTTNews) - A report released by the Commerce Department on Friday showed that the U.S. economy grew by much more than initially estimated in the first three months of the year.

The Commerce Department said gross domestic product climbed by 1.2 percent in the first quarter compared to the previously reported 0.7 percent increase.

Economists had been expecting a more modest upward revision to the pace of GDP growth to approximately 0.9 percent.

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